# Real Estate Math: Explanations, Problems and Solutions

Dearborn Real Estate, 1996 - Business & Economics - 141 pages
Understanding real estate transactions is essential to passing the real estate exam and being a successful agent. Real Estate Math: Explanations, Problems, Solutions, 5th Edition, will guide you step-by-step through every type of math problem you will encounter in your new career. * Each chapter is organized in sections for easy reference and self-paced learning. * Every question and example is worked out completely, step-by-step, so you're never confused about how to solve a problem. * Basic calculator keystrokes are included with examples so you can learn how to solve problems more quickly and easily with the help of a calculator. * The pretest and two posttests include solutions and are directly referenced to the exact chapter section where the material is found. You can see immediately by the problems you miss which sections need more review so you can save study time.

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### Contents

 Review of Basics 1 11 Numbers and Digits 2 13 Rounding Numbers 4 14 Practice Problems 6 Chapter 1 Answer Key 8 Fractions Decimals Percent 9 22 Fractions 10 23 Changing Fractions 11
 511 VA Loans 67 513 Mortgage Discount Points 68 Discount Points 69 515 Computing Transfer Taxes on Mortgages 71 Transfer Taxes on Mortgages 72 517 Computing Monthly Payments 73 519 Mortgage Amortization 74 520 Amortization over Extended Periods 76

 24 Reducing Fractions 12 26 Adding and Subtracting Fractions 14 28 Dividing Fractions 16 29 Decimals 17 211 Multiplying Decimals 18 213 Changing a Fraction to a Decimal 20 214 Changing a Decimal to a Fraction 21 216 Changing a Percent to a Fraction or a Decimal 22 217 Changing a Fraction or a Decimal to a Percent 23 218 Percent in Problems 24 Chapter 2 Answer Key 27 Using Percent in Real Estate 29 32 Percent and Percentage 30 33 Use of the Memory Device 31 34 Five Steps in Percent Problems 35 35 Memory Device Practice Problems 36 36 Calculating Commissions 38 37 Practice Commission Problems 39 Chapter 3 Answer Key and Solutions 41 Legal Descriptions and Area Problems 42 42 Recorded Plat of Subdivision 43 44 Rectangular Survey System 46 45 Calculating Number of Acres 48 46 Converting Square Feet to Acres 49 47 Practice Problems Converting Square Feet to Acres 50 Key Terms 52 49 Formulas To Use in Area Problems 53 410 Formulas To Use in Cubic Measure Volume Problems 56 411 Cost per Unit 57 Chapter 4 Answer Key and Solutions 58 Mortgage Math 59 51 Calculating Interest 60 53 Practice Interest Problems 62 55 VA Minimum Down Payments 63 57 Calculating Conventional Loan Down Payments 64 59 FHA LoansRegular FHA 2O3b Program 65 51O Practice Problems Calculating FHA Down Payments 66
 Chapter 5 Answer Key and Solutions 78 Real Estate Taxes 80 62 City and County Property Taxes 82 63 Special Assessments 83 64 Real Property Transfer Taxes 84 66 Practice Problems Calculating State Transfer Taxes 86 Chapter 6 Answer Key and Solutions 88 Appraising and Investing Calculations 89 71 Cost Approach 90 Depreciation as a Percent 91 Calculating Depreciation and Economic Life 95 75 Income Capitalization Approach 96 76 Sales Comparison Approach 100 Estimating Site Value 101 Gross Income Multiplier 102 71O Estimating Income and Expenses 104 711 Predicting Future Return Rates and Economic Ratios 105 712 Practice Problems 108 Chapter 7 Answer Key and Solutions 109 Computations and Closing Statements 111 30DayMonth Method 112 365Day Method 114 84 Prorating Property Insurance 116 85 Prorating Property Taxes 118 86 Prorating Rent 119 87 Prorating Mortgage Interest 120 88 Organizing the Information 121 Work Organizer for Closing Statements 124 Composite Closing Statement 125 Chapter 8 Answer Key and Solutions 126 Posttest 129 Posttest One Answer Key and Solutions 132 Posttest Two 134 Posttest Two Answer Key and Solutions 137 Index 139 Copyright